As America gets set to celebrate its 242nd birthday with multi-colored fireworks bursting in air, the suppliers of those pyrotechnics are starting to worry about whether they’ll get stuck in the middle of a trade war. So far, the Trump administration has not included the $1.24 billion fireworks industry on its list of China tariff
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India’s banking sector crisis has left most state lenders hamstrung with mounting levels of bad loans, investigations into fraud and restricted growth opportunities. Amid that storm, private banks are set to emerge as winners. India’s public-sector financial institutions control about 70 percent of all banking assets in the country, but they have the highest exposure
International attention is on Malaysia’s new government to demonstrate its commitment to political transparency as the criminal case of former scandal-ridden ruler Najib Razak gets underway. Najib’s Tuesday arrest and subsequent charges — three criminal breach of trust counts and one offense of abuse of power — are a major development in a multibillion-dollar corruption
A non-profit organization is giving millennials of modest means a kick start into adulthood. The plan is to teach them the tenets of personal finance and also to give them $1,000 toward their retirement. Say hello to the 3rd Decade, a free educational program offered by the TCI Foundation and founded by Bob Swift, a
When it comes to money, humans are not exactly rational. In fact, there are six cognitive biases related to money that can be harmful to investors. These detrimental biases can derail the ability to make the best possible decisions about how to build wealth. Oftentimes, clients do not realize their decisions are being negatively affected
Patrick Kaser, managing director and portfolio manager at Brandywine Global, believes free cash flow is a key determining factor in whether or not a company will be a lucrative investment. Earnings, however, are not always indicative of a successful company. “There are many ways to manipulate earnings, earnings per share, GAAP, non-GAAP, but there’s very
It began as an ordinary night for six Bank of America employees, who were out to celebrate the holidays. In mid-December, the members of the firm’s prime brokerage — a division that caters to hedge funds — had gathered at an intimate Lower East Side lounge called Et Al after leaving the team’s gift-exchange party
Barnes & Noble said Tuesday that it has fired CEO Demos Parneros for violating company policies. The company did not specify exactly which policies were violated. It did say, however, that Parneros’ termination “is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto.”
The building blocks for identify theft are for sale on the dark web, a hidden part of the internet that people access through special browsers such as Tor, I2p and Freenet. Once there, scammers find their way to anonymous message boards, and markets for drugs, stolen financial data and other personal valuable information. Almost everything’s
The Federal Reserve Bank and the bond market are at odds over the outlook for the U.S. economy and inflation. Despite two hikes of the Federal Funds rate this year, ranging between 1.75 percent and 2.0 percent, long-term rates have not kept pace, causing the yield curve to flatten and stoking fears of a recession.
Casino stocks fell sharply on Monday on weaker-than-expected gaming revenue data out of Macau. Macau’s Gaming Inspection and Coordination Bureau said gaming revenue for June increased by 12.5 percent to $2.78 billion on a year-over-year basis. Analysts polled by Reuters expected revenue to jump between 17 and 21 percent for June. Shares of Wynn Resorts
Manhattan real estate had its worst second quarter since the financial crisis, with prices and sales dropping and inventory rising, according to a new report. Total sales in Manhattan fell 17 percent in the second quarter compared to a year ago, according a report from Douglas Elliman and Miller Samuel Real Estate Appraisers and Consultants.
Emerging markets have sold off on trade war fears, and for noted investor Mark Mobius that means it could be time to buy. “There is concern about these markets and what’s happening. But what a lot of people forget is that this opens up opportunities,” the co-founder of Mobius Capital Partners said on CNBC’s “Closing
President Donald Trump’s threatened trade tariffs are like a “thunderstorm” facing Europe, according to the head of a German industry body. “There is a thunderstorm coming from the west of the Atlantic, and we should all prepare for this in Europe and we should work on these issues (around trade),“ Joachim Lang, director general of
If you use the IRS tax withholding calculator, you might want to run your results by your accountant before you adjust the amount of income taxes that are pulled from your paycheck. That’s because user error and failure to consider your state and local tax loads could lead to you making incorrect adjustments to your
“Location, location, location” has been a real estate industry cliché for nearly a century and, since clichés are clichés because they are largely true (according to the well-known, er, cliché), the mantra still applies — and across many industries. To wit, a less-than-ideal location or failed geographic expansion was a factor in 9 percent of
There has been a lot of talk in the world of exchange-traded funds that giants like Vanguard Group, BlackRock‘s iShares and Charles Schwab are headed in the direction of trading without any management fee at all. We’re not there yet, but Vanguard Group is making a major move related to ETF fees that no other
In 2017 nearly every stock market around the world was up, and the term “synchronized global growth” was trending among investors. Now with markets around the world teetering on correction levels — from Argentina and Brazil to Germany, India and China — and White House officials saying President Donald Trump will proceed with his trade
A full-blown trade war would punch a hole in global economic growth because of reduced trade volume, supply chain disruptions, and lost confidence. Quantifying just how much damage an entrenched trade battle could wreak upon the international community is a trickier task, but J.P. Morgan has come up with three scenarios. In J.P. Morgan’s first
Check out the companies making headlines before the bell: Dell Technologies Class V – The computer maker announced a buyout of the shares that track the performance of its cloud software unit, VMWare, which itself is a publicly traded company. The deal exchanges DVMT shares for either cash or shares of a new class of
If you’re looking for the best place to settle down during your golden years, head toward the Midwest. Fort Wayne, Indiana took top honors in GoBankingRates’ list of the best and worst American cities in which to retire. The personal finance website analyzed major cities across the U.S., ranking them based on state taxes on
The Dow Jones Industrial Average rallied triple digits in Friday trading, on track to close out the quarter on a high note. Still, the blue-chip index is negative for the year to date, and some of its components have undergone meaningful technical damage in recent months. A select group of underperformers is precisely what Piper
The NATO summit in Brussels on July 11 and 12 is an opportunity for President Donald Trump to get the trans-Atlantic relations back on a constructive path — the place they should have never left. It is absurd to think and say, as some do, that the European Union was created as an opponent to
— This is the script of CNBC’s news report for China’s CCTV on June 15, 2018, Friday. Elizabeth One of the biggest ideas in the payments industry is called biometrics. All you need to make a payment? Your voice, your face, your fingerprint, maybe even your heartbeat. Hello Knomi, please verify my identity. There we
Your postcard-sized income tax return is here, but that doesn’t mean you should tune out on midyear tax planning. On Friday, the U.S. Treasury Department and the IRS announced new updates to Form 1040, the individual income tax return filers use. Though the form is now “postcard-sized,” filers will still need to pick through additional
General Electric‘s dividend will be cut “precipitously” by the end of 2019, one leading analyst predicted to CNBC on Friday. Stephen Tusa, an industrials analyst at J.P. Morgan whose reports have moved the stock before, expects GE’s dividend cut will be in the “30 percent plus range.” “It’s going to get cut, like let’s be
Facebook has admitted that it gave dozens of companies access to its users’ data after saying it had restricted access to such data back in 2015, the latest wrinkle in a firestorm over how the social network manages user information. In news first reported by The Wall Street Journal, Facebook handed a 747-page document to
U.S. farmers and food producers are in the cross-hairs of a global trade conflict that shows no signs of abating anytime soon — and things are about to escalate in a big way on Sunday. New tariffs will be imposed by Canada on beef, and more retaliation will come this week when China and Mexico
Would you want a robot managing your money? Are you comfortable with a computer that could think and learn? While this might sound like a futuristic science fiction novel, it’s already happening in financial services. Robots and smart computers are helping to manage your money, and they will enable banks to increase revenue and employment
Bitcoin might be winning back favor in the public eye. Mohamed El-Erian, chief economic advisor at Allianz, called bitcoin a buy if its price falls below $5,000. The highly volatile cryptocurrency made waves recently after falling 70 percent from its peak, when the price was near $20,000. But today it’s reaching a point where it